Secure Property Development and Investment Makes Q1 European Real Estate Market Update
SPDI currently has seven income producing properties in its portfolio, located in four South Eastern European countries and let to blue chip tenants. The Company is focused on building a portfolio of income generating properties in South Eastern Europe, where the countries provide favourable supply and dynamics for modern commercial properties. Its strategy is to generate annual cash income from excellent covenant tenants, by acquiring properties that match its investment criteria at attractive yields providing substantial scope for capital appreciation as yields converge.
SPDI CEO Lambros Anagnostopoulos commented, "As evidenced in our market research, the real estate sectors of South Eastern Europe are enjoying heightened levels of activity. This is particularly evident in Romania which is where the majority of our portfolio resides. We look forward to reporting on the financial statements of FY2015 in our upcoming results following a successful year, which saw us add a number of income producing properties to our portfolio. Looking ahead to the remainder of 2016 we also will aim to capitalise on the current market conditions in our areas of focus with a view to delivering value to our shareholders and closing the disconnect between our current market cap and the true net asset value of our company."